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20121101
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Search Results 0 to 6 of about 7 (some duplicates have been removed)
is it the automatic tax increases force us into the cliff come monday total 55 billion for defense or domestic spending into the future. >> it is a nightmare. >> it is a total disaster to create chaos. >> drive the economy off the fiscal cliff. john: really? one says sequestration may be okay. russ roberts comment not a horrible crisis? >> government spending is 3.8 trillion. you will cut 100 billion? that is one deck chair on the titanic. john: it is good across the board. >> if their actual cuts. i would do 20% across-the-board but that scares people because they think let's save the things that are important and cut the things that are not. it is all important. the tax increases sound scarier of 400 billion but we have a $1 trillion deficit. each year we spend $1 trillion more than we take 10. so to raise taxes by 400 billion we have already raised them 1 trillion in the future. it is probably a good idea toay the spending is not a free lunch. john: and they're not talking about get rid of deductions and make it simpler. >> tax reform is great there is good and bad some deductions would be
is hysterical about it. both parties are hysterical, but it's about 10% which would bring us roughly back to where we were on defense spending in 2006. >> which adjusted for inflation. >> it was not exactly a crisis year in the pentagon. it's really a minor cut. they've gotten very spoiled at thale pentagon. they had years of luxury and big increases, and siso as soon as u cut the budget a bit, they scream to the heavens. >> john: defense secretary leon panetta said it will weaken our defense system, be irresponsible. senators mic mr. being cain and graham. these draconian cuts represent a threat to our national security and must not occur. >> i don't think that's the best way to cut the defense budget but it could be useful. we need bigger cuts in the defense budget because we do too much. this will force us, i think, to make choices. > >> john: what do you mean we do too much. >> we try to be everything in the world. we try to deliver peace and prosperity to every corner in the world pretending every unstable country is a threat to us. if we cut a bit, we might have to reconsider some
Search Results 0 to 6 of about 7 (some duplicates have been removed)